Amazon Beats the Street by Posting Surprise Profit

Amazon performed much better than analysts believed the company would in its second quarter. The Seattle-based retailer today announced a small profit of 19 cents a share, but when you consider Wall St. had projected a loss of 27 cents a share, it becomes cause for celebration.

Amazon’s revenue also smashed expectations. The company took in $23.19 billion over the last three months – about $800 million more than analysts predicted. The results immediately sent Amazon’s stock straight up. This has catapulted Amazon (valued at $270 billion) past Walmart (valued at $233 billion) as the most valuable retail company on the face of the earth.

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Congrats, Amazon. Just do us all a favor and don’t make another Fire Phone please.